Methods and systems for validating transactions

ABSTRACT

Methods and systems for validating transactions in an automated, secure, regulatory-compliant manner, in which a second party is presented with a graphic user interface that displays a multimedia presentation prepared by or on behalf of a first party, which provide the second party with an explanation of each document to be executed. The system includes a device for capturing the buyer&#39;s digital signature, and a recording device for capturing the actions and responses of the second party before the second party authorizes that the digital signature be associated with each document. In addition, the methods and systems according to the invention create and maintain digital files, which are available as a back up and for support in the unlikely event that there is a dispute regarding the transaction.

BACKGROUND OF INVENTION

1. Field of Invention

The present invention relates to methods and systems for validatingtransactions. More particularly, the present invention provides methodsand systems for validating transactions in an automated, secure,regulatory-compliant manner, which utilizes a display terminal,multimedia presentation, audio and video recording device, data storageand an electronic signature capture device.

2. Description of Related Art

Transactions, which are sometimes referred to herein as “events”, arememorialized in a variety of settings including, for example, thepurchase and sale of motor vehicles, insurance, real estate, consumersales agreements, commercial agreements, governmental transactions,statements of understanding and in other situations where the parties toan agreement desire to memorialize the terms thereof. During suchevents, it is important that

-   -   both parties to the agreement fully understand and agree to all        terms and conditions set forth in the agreement;    -   the agreement comply with all applicable laws and regulations;        and    -   all of the documents required to formally effectuate the sales        transaction be properly executed by both parties.

In many cases, one of the parties to the agreement may be represented byan agent. For various reasons, the agent may not fully and accuratelyexplain or adequately represent the full terms and conditions of thetransaction and the documents presented to the other party. This canoccur for a variety of reasons such as, for example, the agent isfatigued, the agent was not properly trained, the agent does not fullyunderstand the terms and conditions set forth in the documents or due toa conflict of interest or a lack of interest in seeing that the closingis completed in a proper manner. Also, for various reasons an agent maydesire to rush the other party through the closing process and thus notfully explain the terms and conditions of the transaction or engage inother conduct that limits the other party's opportunity to completelyunderstand certain terms and conditions. If the other party isapprehensive about a certain stipulation that is binding within thecontract, the agent might allude that the stipulation is optional, orthat the stipulation is less severe than it truly is. The failure toensure that the closing of the transactions is accomplished in a fairand proper manner can lead to costly and devastating errors andomissions, which drives up insurance and litigation costs and might putthe party represented by the agent at risk for financial loss or a lossof reputation.

In the past, the present inventors had experience using transactionclosing processes in the automobile sales industry in which a buyer wasisolated in a closed environment and asked to view a non-interactivevideo presentation of the closing documents, which was accompanied by anexplanation of the documents to be executed. These prior art processeswere not automated or interactive, did not allow for or account fordifferences in customer comprehension, and did not provide an adequatelevel of validation of the fairness of the closing.

BRIEF SUMMARY OF THE INVENTION

In view of the foregoing, the present application discloses systems forvalidating a transaction between a first party and a second party. Inone embodiment, the system comprises a multimedia presentation preparedby or for the first party, which includes at least one document to besigned by the second party accompanied by explanation of one or moreterms set forth in said at least one document. The multimediapresentation is displayed to the second party using a display terminal,preferably in a kiosk that substantially isolates the second party fromoutside distractions. The system includes a device for capturing thesecond party's signature in digital format. The system includes arecording device configured to acquire audio and video of the secondparty during the transaction. The audio and video recording is stored ina data storage operatively associated with the recording device. Aninterface operatively associated with the display terminal allows thesecond party to control an attribute of the multimedia presentation(e.g., presentation language, pace, appearance of an avatar that is partof the multimedia presentation etc.) and to determine whether thedigitally captured signature of the second party may be associated withthe at least one document in the transaction.

The present application also discloses methods for validating atransaction between a first party and a second party. In one embodiment,the method comprises the steps of:

-   -   compiling a multimedia presentation that includes at least one        document to be signed by the second party accompanied by        explanation of one or more terms set forth in said at least one        document;    -   displaying the multimedia presentation to the second party on a        display terminal during the transaction;    -   capturing a signature of the second party;    -   providing an interface operatively associated with the display        terminal that allows the second party to control an attribute of        the multimedia presentation and to determine whether the        signature of the second party may be associated with the at        least one document;    -   recording audio and video of the second party during the        transaction; and    -   storing the audio and video recording of the second party        acquired during the transaction.

The present application also discloses a computer readable medium thatcomprises instructions that, when executed by a processor, performactions to validate a transaction between a first party and a secondparty. In one embodiment, the computer readable medium comprisesinstructions that, when executed by a processor, performs actionsincluding:

-   -   sending transaction information relating to a transaction        between a first party and a second party to a compiler module        upon receipt of a command from the first party or an agent of        the first party;    -   displaying a multimedia presentation compiled by the compiler        module to the second party on a display terminal during the        transaction, said multimedia presentation including at least one        document to be signed by the second party accompanied by        explanation of one or more terms set forth in said at least one        document;    -   controlling an interface operatively associated with the display        terminal that allows the second party to control an attribute of        the multimedia presentation and to determine whether signature        of the second party captured by a signature capture device may        be associated with the at least one document;    -   controlling a device that records audio and video of the second        party during the transaction;    -   associating the second party's signature with the at least one        document upon receipt of a command from the second party        authorizing such action; and    -   storing the audio and video recording of the second party        acquired during the transaction.

The systems, methods and computer readable medium can be utilized in avariety of applications including, but not limited to, the sale of motorvehicles, insurance, real estate and other consumer transactions. Inaddition, the systems, methods and computer readable medium can beutilized in commercial agreements, medical authorizations, transactionsbetween citizens and governmental agencies and in other transactionswhereby an agreement is to be reached and memorialized between two ormore parties.

The foregoing and other features of the invention are hereinafter morefully described and particularly pointed out in the claims, thefollowing description setting forth in detail certain illustrativeembodiments of the invention, these being indicative, however, of but afew of the various ways in which the principles of the present inventionmay be employed.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a schematic representation of various components that can beutilized in an embodiment of a system according to the invention.

FIG. 2 is a flowchart that shows the initial setup of kiosk and the mainscreen options available in accordance with an embodiment of a systemand method of the invention.

FIG. 3 is a flow chart of general settings routine that may be selectedfrom the main screen options shown in FIG. 2.

FIG. 4 is a flow chart of the signing process routine that may beselected from the main screen options shown in FIG. 2.

FIG. 5 is a flow chart showing the presentation selection processroutine referenced in FIG. 4.

FIG. 6 is a flow chart showing the presentation slide selection routinereferenced in FIG. 4.

FIG. 7 is a flow chart showing the slide playback routine referenced inFIG. 4.

FIG. 8 is a flow chart showing the repeat slide playback routinereferenced in FIG. 7.

FIG. 9 is a flow chart showing the end recordings routine referenced inFIG. 7.

FIG. 10 is a flow chart showing updates that may be selected from themain screen options shown in FIG. 2.

FIG. 11 is a flow chart showing the recording manager that may beselected from the main screen options shown in FIG. 2.

FIG. 12 is a flow chart showing the logic of a recording uploaderroutine that can be established for a system and method according to oneembodiment of the invention.

FIGS. 13-14 together constitute a flow chart that provides asummary/overview of an embodiment of a system and method of theinvention.

DETAILED DESCRIPTION OF THE INVENTION

The present invention provides systems for validating a transactionbetween a first party and a second party. The term “first party”, unlessotherwise indicated, refers to one party to a transaction who will oftenbe, but is not required to be, a provider of a service or a seller ofproperty to the second party to the transaction. The term “first party”is not intended to be restricted to a single individual or company, andmay in certain transactions include two or more individuals and/orbusiness entities to the transaction.

The term “second party”, unless otherwise indicated, refers to the otherparty with whom the first party is entering into the transaction. Often,the second party will be, but is not required to be, a consumer who iscontracting for a service and/or buying property from the first party.Again, the term “second party” is not intended to be restricted to asingle individual or company, and may in certain transactions includetwo or more individuals and/or business entities.

It will be appreciated that the first party and/or the second party maybe represented by an agent in the transaction. The methods, systems andcomputer readable mediums according to the invention are particularlyuseful when the first party is represented by an agent, as the methods,systems and computer readable medium remove any potential adverseinfluences that such an agent can bring to the transaction. The term“agent” is not intended to be limited to only individuals having a legalagency relationship with the first party, but is intended to encompassall individuals who, on behalf of one of the parties (typically thefirst party), interact with the other party (typically the second party)prior to and during execution of the document(s) that memorialize thetransaction. An agent in this sense could be, but need not be, a salesrepresentative, manager or other employee of a party to the transaction,a third party transaction closing entity or any other person or businessentity that acts on behalf of a party to the transaction.

FIG. 1 shows a schematic representation of exemplary components ofsystem 10 according to an embodiment of the invention. In the embodimentillustrated in FIG. 1, the system includes a multimedia display terminal20 that is configured to present a multimedia presentation that includesa portion that is visible to the second party on a display screen 30 andan audible portion that is presented to the second party, typically viaspeakers 40 or, in some embodiments, via headphones worn by the secondparty. The display terminal can be a computer monitor, television or anyother device that includes a display including, for example, a wirelessdevice such as a tablet computer (e.g., an iPad® or the like).

The multimedia presentation is prepared by or for the first party forpresentation to the second party on the display terminal. The completemultimedia presentation can be prepared in advance of the transaction,or more commonly, the multimedia presentation can be compiled andassembled by the system and software at the time of the transaction fromdocuments and associated multimedia components that were prepared inadvance of the transaction. In some embodiments, which are discussed ingreater detail below, the multimedia presentation or components thereofare prepared as a service by a third party on behalf of the first party.

The multimedia presentation includes at least one document 50, andlikely a plurality of documents, that need to be signed by at least thesecond party (or the agent of the second party, which in this contextthe term “second party” is intended to subsume). The term “signed” meansthat the document must ultimately bear the signature of the second partyand/or the initials of the second party, as need be. In many instances,the document will also need to be signed by the first party (or theagent for first party, which in this context the term “first party” isintended to subsume). In some instances, the document may also requirethe signature of a notary or one or more witnesses.

Preferably, the multimedia presentation begins by greeting the secondparty and providing an introduction, which welcomes and acclimates thesecond party to the various components of the system and the manner inwhich they operate and can be controlled by the second party. As part ofthe multimedia presentation, the document(s) to be signed by the secondparty are displayed to the second party on the display terminal and arepreferably simultaneously explained to the second party. The explanationis preferably provided by an avatar 60. The term “avatar” is intended toreference an animated guide, which may take on any of a number of formsor appearances (e.g., human forms, animal forms, robotic forms etc.).The term “animated” in this sense not only encompasses conventionalcomputer-aided graphic animation, but also encompasses photographicand/or videographic images that have been prepared to guide a secondparty through a transaction. The appearance of the avatar may, in someembodiments, be selected by the second party to the transaction. Asnoted above, the avatar explains the content of the document(s) to besigned by the second party to the second party. The explanation isintended to ensure that the second party understands the terms set forthin the document to be signed by the second party, and that theexplanation is presented in a coherent, neutral and unbiased manner.

Digital versions of every document to be presented during thetransaction are prepared in advance, and formatted for display to thesecond party during the multimedia presentation. Preferably, a thirdparty document service is utilized, which creates documents that arecustom-tailored for the particular transaction, and which are compliantwith all laws, regulations and best practices for the specificjurisdiction, industry, or business setting. The documents are stored ina secure database for retrieval at the time of the presentation. Asnoted, the database includes a selection of documents that have beenpre-audited to ensure compliance with local and federal rules andregulations and business policies and practices, and which have beenupdated as need be in response to changes to the law or other bestpractices. A compiler module that is configured to select documentsidentified in the documents database and stored in an associateddocuments storage device can be used to select documents that areappropriate for the transaction and to compile said selected documentsand their associated explanations into the multimedia presentation fordisplay to the second party during the transaction.

An interface is operatively associated with the display terminal. In theembodiment illustrated in FIG. 1, the interface is a keyboard 70. Itwill be appreciated that one or more interfaces can be utilizedincluding, but not limited to, touch screen interfaces that areintegrated into the display terminal, a computer mouse, a track ball, atouch pad and custom interfaces that may include one or more buttons orswitches, which may be lighted, for the second party to interact withduring the multimedia presentation. Thus, the term “interface” is notintended to be limiting, and may encompass any device that allows thesecond party to interact with and control one or more attributes of themultimedia presentation. Attributes of the multimedia presentation thatcan be controlled by the second party include, for example, one or moreselected from the group consisting of a language of the multimediapresentation, a pace at which the multimedia presentation is presentedto the second party, and an appearance of the avatar.

The system also includes a device 80 for capturing a signature of thesecond party. The device for capturing a signature of the second partycan be an electronic signature pad or other device (e.g. an opticalscanner that obtains an image of a written signature provided by secondparty). The device for capturing the signature of the second party isoperatively associated with the display terminal so that the secondparty can see the captured signature. Using the interface, the secondparty determines whether the captured signature may be associated withthe at least one document, and only does so once the second party hasconfirmed an understanding and acknowledged agreement to the termsthereof. In a preferred embodiment, once the second party has authorizedthe document to be signed, an image of the document bearing the secondparty's signature is displayed on the display terminal to the secondparty. The image of second party's signature is preferably not retainedin storage for reuse (although this is possible). On the contrary, it ispreferably deleted immediately after the transaction process iscompleted (i.e., only the second party's signatures/initials as appliedwith the permission of the second party during the transaction processto documents utilized in in the transaction are retained in storage).

A camera 90 and a microphone 100 are situated proximal to the displayterminal and may be, but are not required to be, integrated with thedisplay terminal. The camera and microphone record the second partyduring the transaction, including during the multimedia presentation.The camera preferably captures videographic images of at least the faceof the second party, and the microphone preferably captures any audiblesounds emitted by the second party during the transaction. The video andaudio recorded during the transaction is time-stamped and matched withthe multimedia presentation presented to the second party, as furtherexplained in detail below.

Once the explanation of each document that is part of the transaction iscomplete, the second party will be asked to electronically sign thedocument. The second party's acknowledgement and understanding of theterms is captured by the video camera and/or microphone. Additionally,electronic signature button will be displayed which allows the secondparty to decide whether to execute the document or not. If accepted, thesecond party's signature will be affixed as a digitally secure encryptedelectronic signature that will not allow any future modifications. Theelectronically captured signature or other mark is then displayed on theexecuted document to the second party.

The display terminal, interface, camera and microphone, and optionallythe device for capturing the signature of the second party, are allpreferably located in a kiosk 110. The term “kiosk” refers to anystructure that sufficiently isolates the second party from outsidedistractions during the multimedia presentation. In some embodiments,the kiosk may take the form of a room that contains the displayterminal, interface, camera and microphone, and optionally the devicefor capturing the signature of the second party. If desired, the room beaccessible by a single door, which can be closed to provide the secondparty with isolation and comfort during consideration of the terms andand execution of the document(s) during the multimedia presentation. Thedoor can be equipped with an electronic monitor, which confirms whetherthe door was opened at any point during the transaction.

In other embodiments, the kiosk may take the form of a stall havingsidewalls that block the second party's forward, left and right viewsoutside of the stall when the second party is positioned in front of thedisplay terminal. In such an embodiment, it is preferably for the secondparty to wear headphones, which ensure that the second party can hearthe audible portion of the multimedia presentation but cannot hear otherdistracting noises. Preferably, the stall is placed near a wall suchthat a second party can walk between the wall and the stall to assume aposition (standing or seated) in front of the display terminal, but thewall makes it difficult for any other person to occupy a position behindthe second party while the second party views the multimediapresentation.

The kiosk can be provided by the first party on premises controlled bythe first party such as, for example, at a sales center, office orretail location. Alternatively, the kiosk can be located on premisescontrolled by a third party such as, for example, at a title company,financial institution, or other third party service provided. In yetanother embodiment, the kiosk can be at a location selected by thesecond party. In this embodiment, the multimedia presentation can bepresented to the second party via the second party's computer or othersuitable device, and video and audio of the second party can be capturedduring the transaction by devices under the control of the second partyand integrated into a recording that also includes the multimediapresentation. Thus, the systems, methods and computer readable mediumaccording to the invention can be utilized in transactions that occurover an Internet connection using communication devices and recordingequipment of the second party (i.e., home use).

The interface also preferably allows the second party to make a requestfor additional information from the first party or the agent of thefirst party. The additional information may relate to any matterrelevant to the transaction including, but not limited to, a furtherexplanation regarding one or more terms of a document to be signed bythe second party. In one embodiment, one or more requests for furtherexplanation and/or additional information can be anticipated by thefirst party, and thus can be included as an optional part of themultimedia presentation, which the second party can select or bypassusing the interface depending upon the second party's comfort with andunderstanding of the terms. This allows the second party to control howdetailed the explanation of the contract terms are provided to thesecond party. Some second parties are sophisticated and understand theterms of transaction documents with little need for detailed explanationof the terms, whereas other parties are less sophisticated and are thusable to further explanation and clarification of terms. The interactionbetween the second party and the multimedia presentation provides thesecond party with the ability to control the pace of the multimediapresentation.

The second party may have questions or concerns that are not anticipatedby the first party and are thus not available as optional presentationsto be selected by the second party. In some embodiments, in order toprovide the second party with further options to obtain additionalinformation, the interface may include the ability of the second partyto initiate a chat session with the first party, an agent of the firstparty or a third party retained by the first party to provide suchassistance. The individual responding to the chat session request onbehalf of the first party could, but need not be, located remotely fromthe kiosk (e.g., at a call center or other facility maintained at aremote location by the first party or a third party retained by thefirst party for such purposes). It will be appreciated thatcommunications between the second party and the first party, an agent ofthe first party, or a third party retained by the first party couldoccur other means, such as through instant messaging. Preferably, thecommunications with the second party are integrated into the recordingmade of the transaction.

In yet another alternative embodiment, the system includes a call button120 that sets off an audible, visual and/or electronic alarm 130, whichpermits the second party to summon the first party or an agent of thefirst party to confer with the second party in the kiosk. It will beappreciated that the call button could be a telephone or any otherdevice that summons the first party or the agent of the first party tocome to the kiosk at the second party's request. Any communicationsbetween the first party or the agent of the first party and the secondparty are preferably recorded by the recording device (i.e., the cameraand microphone) and integrated into the recording made of thetransaction.

An optional feature of a system and method of the invention is the useof an audio interface, which requires the second party to audibly repeatone or more terms or conditions of an agreement, and based uponreception of an audible response from the second party by an audiosensor and associated software, confirms that the second party hasexpressed an understanding of it before the multimedia presentation willcontinue. Furthermore, the multimedia presentation can optionallyfurther include tests or challenges, that serve to verify that thesecond party understood and acknowledged the terms of the documentbefore consenting to allow the second party's signature to be affixedthereto.

As noted above, the audio and video captured during the transactionusing the camera and microphone are preferably time stamped andintegrated with the multimedia presentation shown to the second party,preferably in a side-by-side format (i.e., the multimedia presentationappears on one side, and the audio and video of the second partycontemporaneously captured of the second party during the transactionappears on the other side). This recording is preferably stored in adata storage that is operatively associated with the recording device.The data storage can be integrated with the display terminal (e.g., thedisplay terminal can be a computer containing data storage). Morepreferably, the data storage is located remote from the kiosk such as ina data center or using storage 140 provided by a cloud computing serviceprovider via an appropriate connection. Recordings can be retained foran indefinite period of time. Or, more practically, recordings can beretained for a predetermined period of time, and then be deleted orotherwise destroyed thereafter.

The multimedia presentation preferably resides and is created using anoff-site computer server system 150, which may also be cloud based. Thissystem may be configured to acquire documents and services from systemsmaintained by third parties 160 (one third party system is illustrated,but it will be appreciated that documents can be obtained from multiplethird parties for assembly and use in a particular transaction) acrossdifferent platforms. The documents and services (e.g., multimediapresentations, software etc.) is integrated by the server system forsubsequent using in the transaction process between first and secondparties. The server system 150 also either includes or communicates withthe storage 140 of the recordings made during transactions at the kioskso that the same can be accessed. In other embodiments, the documentsmay also be acquired by the server system 150 from the first party (asopposed to a third party vendor), or be generated by the system itself.

All data, communications, recordings etc. utilized by or generated bythe systems and methods of the invention are secure, meaning thatefforts are made to ensure that no unauthorized individuals or systemscan access the data, communications, recordings etc. Data andcommunications can be encrypted, and security keys, passwords, etc. canbe used. In addition, the system can include monitors for identifyingthose persons who access the data, and log the actions taken by suchindividuals so that forensic review can be completed.

The recording of the transaction can be reviewed to ensure that noerrors or omissions have occurred during the transaction. Furthermore,the recording provides a detailed and accurate record of events as theytranspired if a dispute happens to arise later between the parties as towhat occurred during the transaction. Once the transaction is completed,the finished and signed documents are output to a digital file that canbe printed or emailed to each party. These digital files are thenarchived electronically for a predetermined length of time so that theycan be reprinted in the future if the need arises. It will beappreciated that the recording made of the transaction can be valuablewhen and if disputes arise long after the transaction. To discouragelitigation and to encourage settlement or reconsideration of theinitiation of litigation regarding the transaction, archived copies ofthe recording can be maintained for a long periods of time (one thatexceeds the statute of limitations for actions related to thetransaction), and the copies can be made available to second parties andtheir counsel who may be considering legal action against the firstparty. The server system 150 can further comprise complaint follow-upcompliance functionality, in the unlikely event a complaint is filed bya second party against the first party.

The invention serves to standardize the way sale closings are performed,by giving a verified, compliant set of documents that both protect theparties and thoroughly explain the documents to facilitate understandingand compliance. The invention significantly minimizes (and hopefullyvirtually eliminates) human error from the sale closing process andpresents an impartial, unchanging explanation. The person using theinvention is able to make better use of their time and resources, asduring the closing process, they are able to begin on their nexttransaction, reducing wait times and improving customer service. Partiesmay feel less intimidated and more at ease with the invention, as theycan move through their sale closing at their own pace and level ofcomprehension.

It will be appreciated that the system and method of the invention canbe used in other transactions, such as in training and testingenvironments. One of the concerns with remote training and testing iswhether the person who is supposed to be receiving training or beingtested is actually the person who attends the remote testing location.While it is difficult to know for certain the degree to which fraudoccurs in conventional training and testing environments because of theinability of such systems to verify the identity of individuals andcompliance with requirements, there are concerns that individuals (e.g.,secretaries or other staff) may take training sessions or tests forothers (e.g., managers or other staff), and vice versa. The methods andsystems of the invention can make a documented, secure record of thetraining or testing, which includes confirmation that the personreceiving the training or testing did, in fact, receive the training ortesting, and also that they were paying attention and understood theinformation be provided.

Another attribute of the system and methods of the invention is that itcan utilized to collect or “mine” data relating to transactions. Forexample, a first party could collect demographic data relating to secondparties, which can be utilized by first parties to improve the deliveryof services to second parties or otherwise improve efficiencies of thefirst party. For example, data could be mined identifying the secondparty's place of residence or other socio-economic information, whichcould be utilized to determine the effectiveness of advertising and/orwhether certain demographics are being properly served by the firstparty in a region. Data can also be collected to ascertain whether thereare aspects of multimedia presentations that need to be reviewed andaltered, or whether there are points in the transaction process thatnegatively affect closure rates (etc.).

FIGS. 2-12 are flow charts showing the configuration and operationallogic of a system according to a preferred embodiment of the invention.It will be appreciated that alternative embodiments are possible, andthat the methods and systems as defined in the claims below may deviatefrom the operational logic set forth in FIGS. 2-12.

With reference to FIG. 2, confirmation that the kiosk is ready for usebegins at 200. The first inquiry 201 is whether a local database exists.If not, then a local database is created 202. The local database iscreated by opening and entering the general settings portion of thesystem 203, which is explained in greater detail with reference to FIG.3.

With reference to FIG. 3, the general settings page is displayed 300 tothe first party or a third party performing services for the firstparty. A unique account code 301 is entered. The unique code could, forexample, identify the parties to the transaction, the documents to beexecuted, the agent of the first party, the time, date and/or locationof the presentation etc. Next, a kiosk access key is entered 302.Verification of the kiosk access key occurs at 303. If the kiosk accesskey is invalid, an error message is displayed 304 and the kiosk accesskey field is cleared 305. The kiosk access key may now be reentered at302 for validation 303. The number of kiosk access key entry/validationattempts may be limited, if desired, to further enhance the security ofthe system and its users. If the kiosk access key is valid, a successmessage is provided 306 and an option is provided to proceed to optionale-mail setup 307 or to save the general settings 311 in the system. Thesettings are saved 312. A message is provided 313 indicating whether thesettings were successfully saved or whether an error occurred.

The optional e-mail setup 307 permits a first party or a third party onbehalf of the first party to select the e-mail servers that will be usedduring the transaction. The e-mail server information is entered 308,and e-mail addresses are entered 309, 310 until all e-mail addresseshave been entered. This information is saved 311, 312, and a message isgenerated 313 as described above.

Returning back to FIG. 2, if the local database exists 201 (i.e.,completion of the general settings routine referenced in FIG. 3 has beena success), inquiry is made regarding whether the kiosk has beenattached to the account 204. If so, main screen options are presented205. If not, then the general settings routing discussed with referenceto FIG. 3 must be entered 203 and successfully completed.

In the embodiment shown in FIG. 2, there are four screen optionsavailable, namely entering into a signing/disclosure process 206 orroutine, conducting system updates 208, entering into the recordingmanager 210, and entering into general settings 212. If the generalsettings option 212 is selected, then the general settings page 213shown in FIG. 3 at 300 is displayed. If the signing/disclosure process206 is selected, then the transaction process is initiated 207. Thetransaction process determines what multimedia presentation is shown tothe second party. This is illustrated in greater detail in FIG. 4beginning at 400.

With reference to FIG. 4, after initiation of the transaction process400, an access code must be entered 401. This code can be the uniqueaccount code previously referenced above in 301. The access code isvalidated 402. If the access code is invalid, a message code isdisplayed 403 and the access code can be reentered 401. If the accesscode is valid, all requisite document(s) for the transaction and theassociated multimedia presentation are downloaded 404 (e.g., pulled fromstorage, preferably 150 in FIG. 1) for display on the display terminalat the kiosk. It will be appreciated that in some instances (e.g., whenthe system is utilized for education or training purposes), there maynot be any documents to be executed by the second party. Thus, aninquiry is made 405 regarding whether the multimedia presentation(sometimes referred to herein as the disclosure) includes documents 405.If not, then information required to obtain the legal consent of thesecond party (sometimes referred to as the “buyer”) is displayed at thekiosk 406. If, however, the transaction includes documents to be signedby the second party, the documents are split and pages are exported toan image file for eventual display to the second party 407. Confirmationis made that the proper multimedia presentation has been selected 408.If not, inquiry is made regarding whether the documents have mapID's409. MapID's, which are also known in the art as document identificationcodes, provide information about the documents to be utilized in thetransaction. For example, mapID's could identify the number of pagesthat are present in the documents to be executed during the transaction,the size of the document files and/or the location of the documents. ThemapID's also provide a mapping of the various fields in the documentswhere information is to be populated into the forms, which allows forthe proper data to be populated in the forms during the transaction. Ifthe documents do not have mapID's, then the multimedia presentation isnot ready for presentation to the second party and the presentation isterminated 410. If the documents do have mapID's, then a presentationselection routine 411 is entered. The presentation selection process 411is illustrated in greater detail with reference to FIG. 5 beginning at500.

A submitted document is identified by mapID 501 and is selected from adatabase and associated with a presentation identified by mapID 502.Next, the multimedia presentation instance associated with the documentis obtained from storage 503 and an inquiry is made regarding whetherthe multimedia presentation instance is associated with the kiosklocation 504. If so, then the presentation is added to the selectionlist 505 and inquiry is made 506 regarding whether there are additionalpresentations to be added. If not, then further inquiry is maderegarding whether the presentation instance has a presentation groupwith the kiosk 507. If so, it is added to the presentation selectionlist 505. If not, the presentation is excluded 508, and inquiry is maderegarding whether there is another presentation instance to be added509. If so, the next multimedia presentation instances associated withthe document is obtained from storage 503. If not, then the routineproceeds to the inquiry 506 regarding whether there are additionalpresentations to be added. If so, then associated presentations areobtained via mapID's 502. If not, then inquiry is made regarding whetherthere is another submitted document to be presented during themultimedia presentation 510. If so, the submitted document is identifiedby mapID 501. If not, then inquiry is made regarding whether one or morepresentations are indicated as being available 511. If not, then anerror message is transmitted to the display terminal in the kiosk 512advising that no presentation/document match has been made. If so, thepresentation selection process concludes 513 and the signing process(see FIG. 4) continues at 412, where inquiry is made regarding whetheronly one presentation is to be made. If yes, then the singlepresentation is auto-selected 413. If no, then additional presentationsavailable for the kiosk are shown 414, and the user can make a selectionfrom the available presentations 415. In both instances, the nextinquiry is whether a first party or its agent (both of which arecollectively referred to as “employee” in FIG. 4) are selected 416. Ifso, the legal consent information to record the second party 406 isdisplayed. If not, then inquiry is made regarding whether there is onlyone first party 417. If so, that first party is auto-selected 418 andthe legal consent information 406 is displayed to the second party. Ifnot, then a list of first parties is displayed 419, and legal consentinformation 406 is displayed to the second party after one or more firstparties have been selected.

Inquiry is next made regarding whether there are more second parties tothe transaction 420 (the second parties are referred to as a “buyers” inFIG. 4). If there is more than one second party to the transaction, thelegal consent to record information is recorded for each second partypresent 406. If not, the second party is shown a tutorial 421 using thedisplay terminal. The signature of the second party and the first partyare captured 422 (it is possible that the first party's signature and/orinitials are “pre-captured” before the transaction and retained instorage, although this is generally not preferred). Inquiry is maderegarding whether there are additional second parties 423, and if so,their signatures are captured 422. If not, then the multimediapresentation commences 424. Presentation slides are selected forpresentation to the second party 425 in accordance with a presentationslide selection routine, which is shown in FIG. 6 beginning at 600.

With reference to FIG. 6, all slides for the presentation are loaded 601for sequential processing in 602. During processing, inquiry is made in602 whether there are any slides found in the load of slides from 601that have not yet been included in the slide list to be presented to thesecond party (the inclusion determination is made in 604). If there areslides found in the load of slides from 601 that have not yet beenincluded in the slide list, for each such slide inquiry is maderegarding whether the slide has a matching submitted document by mapID603. If so, the slide is included in the slide list 604, and the nextslide is considered 602. If the slide does not have a matching submitteddocument by mapID, then inquiry is made regarding whether the slide isrequired to be presented during the multimedia presentation to thesecond party 605. If so, the slide is included in the slide list 604. Ifnot, the slide is excluded from the presentation 606. As noted above,inquiry is made in 602 until all of the slides in the load from 601 havebeen processed and there are no slides found in the load from 601 thathave not yet been included in the slide list. When this occurs, at 607inquiry is made regarding whether at least one slide has been includedin the slide list to be presented to the second party (i.e., thedetermination made at 604). If so, then the system returns to signingprocess 609 with the included/selected slides at the next inquiry,namely whether there are any slides after the slide selection process426 (see FIG. 4). If not, then the presentation is terminated due to anerror 608, namely that there are no slides included/selected to bepresented to the second party.

Returning again to FIG. 4 and particularly to the inquiry regardingwhether there are any included/selected slides after the slide selectionprocess 426, if not, a messages is displayed 427 advising that thepresentation is not properly set up, and the presentation is ended 428.If slides are selected, then the slide playback routine 429 commences.This is explained in greater detail with reference to FIG. 7, beginningat 700.

A slide is loaded at 700 and displayed to the second party on thedisplay device. Inquiry is made regarding whether the slide loaded isthe first slide 701 in the presentation. If so, then inquiry is maderegarding whether the first party's signature block appears on thedocument associated with the slide 702. If so, the first party'ssignature is added to the document 703. If not, then navigation controlsavailable to the second party are disabled 704, and the document isdisplayed on the display terminal to the second party 705. Inquiry ismade regarding whether there is a summary of the document as part of themultimedia presentation to be presented to the second party 706. If so,the summary is presented to the second party 707, and the second partyis prohibited from skipping or cancelling the presentation. The secondparty can temporarily halt (pause) playback of the presentation, ifdesired. After the summary has been presented to the second party, or inthe event there is no summary of the document, inquiry is made regardingwhether there is a detailed explanation of a portion of the document708, which is referenced as a chapter video in FIG. 7. If so, allchapter videos are presented to the second party sequentially, whichprovide information regarding the content of the document 709 (e.g.,terms, conditions, consequences etc.). During the first playback, thesecond party cannot skip any portion of the presentation, but can pauseit. Once it has been fully presented, the second party has the option toselect terms for repeated playback or select more information, ifavailable. If there is no summary and no detailed presentation relatingto a document that is part of the transaction, then an error message isdisplayed 710. If at least one of a summary and/or a chapter video hasbeen presented to the second party, then the signature and initials ofthe second party are captured 711 using a signature capture device, asdescribed above.

Inquiry is then made regarding whether the second party's initials arerequired to be affixed to the document 712. If so, the second party isrequested to consent to the attachment of the second party's initials tothe document 713 using the interface. If the second party withholdsconsent, no transaction is entered into between the first party and thesecond party and the process concludes. If the second party consents,the second party's initials are added to the document and inquiry ismade regarding whether the second party's signature is required to beaffixed to the document 714. If so, the second party is requested toconsent to the attachment of the second party's captured signature tothe document 715 using the interface. If the second party withholdsconsent, no transaction is entered into between the first party and thesecond party and the process concludes. If the second party consents,the second party's captured signature is added to the document andinquiry is next made regarding whether there is an additional secondparty (referred to as a “CoBuyer” in FIG. 7) to the transaction whoseinitials are required on the document 716. If so, the additional secondparty is requested to consent to the attachment of the additional secondparty's initials to the document 717. If the second party withholdsconsent, no transaction is entered into and the process concludes. Ifthe second party consents, the additional second party's initials areadded to the document and inquiry is made regarding whether theadditional second party's signature is required to be affixed to thedocument 718. If so, the additional second party is requested to consentto the attachment of the additional second party's captured signature tothe document 719 using the interface. If the additional second partywithholds consent, no transaction is entered into and the processconcludes. If the additional second party consents, then the additionalsecond party's signature is added to the document and inquiries are madefor additional second parties (see 720, 721, 722 and 723 etc.) and/orother parties, such as co-signers or guarantors (see 724, 725, 726, 727etc.). It will be appreciated that the request for consent to addsignatures to the document continues until all signatures have beenrequested and consent has been provided.

Inquiry is ultimately made regarding whether all initials and/orsignatures required for the document have been captured and added to thedocument 728. If not, the process begins again at 711. If so, navigationbuttons are made available to the second party 729 allowing the secondparty to proceed. Inquiry is then made regarding whether there areadditional slides in the presentation 730. If so, the second party ispermitted to input commands to continue forward or backward 731 usingthe interface. If the second party elects to proceed forward, the nextslide is loaded and the process resumes at 700. For every slide exceptthe first slide, the response to the inquiry at 701 will be no. In thisevent, at 732 the repeat slide playback routine commences, which isdescribed in greater detail in FIG. 8 beginning at 800.

The repeat slide playback routine is identical to the initial slideplayback routine described in FIG. 7 with reference to 705-709 and712-730. But all navigation is available to the second party from theoutset (other than to skip over required multimedia presentations) 801,and signature capture operations 702, 711 are omitted 802 because thesignatures of the parties have already been captured. The repeat slideplayback routine continues by loading the next slide 803, which returnsto 700 in FIG. 7 and continues until the response to inquiry 730 is thatthere are no additional slides in the presentation. At that point, therecordings end 733, and the end recordings routine begins. This isillustrated in FIG. 9, beginning at 900.

Once the recording has concluded at 900, the files are renamed 901 sothat the next recording at the kiosk can commence. A video encodingprocess 902 is conducted, to create a record of the second party duringthe transaction and the multimedia presentation that was presented tothe second party during the transaction. This recording is encoded andplaced into an archive 903 in storage, with details of the storagelocation and record entered into a database.

After the recording has been concluded 733 (see FIG. 7), the documentsbearing the signatures of the parties are saved in an appropriatedigital file format (e.g. as PDF files). Inquiry is made regardingwhether e-mail addresses were provided 735 as previously described withreference to FIG. 3 (see 307-310). If so, then an e-mail page is loaded736, the e-mail addresses are confirmed 737, and the confirmedinformation is saved 738 and the e-mail is sent. An option is providedto the second party to print a copy of the signed documents 739. Onceoptional printing has been completed, the process concludes 740, allsystems are reset, and the kiosk is available for use again (see FIG. 2,at 200).

With reference to FIG. 2, there is also an updates manager 208 as one ofthe main screen options. When this is selected 209, an updates routineis commenced as shown in FIG. 10 at 1000. In the updates routine 1000, aset schedule is set for a cache updater service 1001. This cache executeupdater is conducted on the schedule 1002. After updates, the settingsare saved 1003. It will be appreciated that other settings, routines,and software maintenance can also be made in this manner, as needed.

Again, with reference to FIG. 2, there is also a recording management210, which can be selected 211 from the main screen options. Therecording manager is shown in FIG. 11, and commences at 1100. Therecording manager includes a set schedule for cache updater service1101, and settings are saved after completion 1102. The recordingmanager also includes an archive setting feature 1103, which determinesthe duration for which recordings of transactions are retained, or movedto alternative storage locations.

FIG. 12 shows an optional recording uploader function, which can be partof the system. The recording uploader can be initiated 1200 as ascheduled task or upon specific commands. The recording made of themultimedia presentation and second party during the transaction can beuploaded to storage accessible via the Internet using an FTP link 1201.An inquiry can be made to determine whether recording access linksshould be auto-generated 1202. If so, an access key is generated 1203and e-mailed to the second party, who can download and view therecording of the transaction. The process concludes at 1204.

FIGS. 13 and 14 provide an overview or summary of a transactionconducted using an embodiment of a system and method according to theinvention. In this embodiment, a third party service provider such as adocument supplier or other vendor initiates a new disclosure 1300.Documents that are suitable for a particular transaction (e.g.,documents that have been reviewed by experts to confirm that they meetminimum legal requirements and are suitable and complete for aparticular transaction) are submitted via a secure web service 1301 tostorage, and information regarding the documents is placed into anassociated database. A unique customer access code is generated 1302,which must be provided in order for access to be granted to thedocuments.

A transaction validation service provider who has a relationship withthe third party service provider who prepared the documents, initiates anew disclosure for a first party 1310 (in FIG. 13 the first party isreferred to as a “Client”), which may be a retailer, insurance company,government agency or any other first party. A unique access code isprovided to the first party 1311, and the access code allows the firstparty to access the documents prepared by the third party serviceprovider for use in transactions with second parties. The documents cancome from the third party document vendor's servers or, more preferably,can come from the transaction validation service provider's servers (thetransaction validation servicer provider having previously obtained thedocuments from the third party document vendor).

When the first party desires to enter into a transaction with a secondparty (in FIG. 13, the second party is referred to as a “Customer”),both the first party or its agent and the second party enter into akiosk 1321, which as indicated in comment 1320 is a secured signingarea. The unique customer access code provided by the transactionvalidation service provider is entered at the display terminal in thekiosk 1321, and the first party or its agent initiates the automatedtransaction process 1322, which includes a multimedia presentation. Asnoted in comment 1323, recordings of the second party commence at thestart of the presentation. The second party is asked to acknowledge thata recording is being made 1324, and provide consent and signatureadvising of the same using an interface as noted in comment 1325. Thesecond party views a tutorial regarding operation of the system and howto use it 1326. And, then the first party or its agent uses a signaturecapture device 1327 to capture the first party's signature and/orinitials as indicated in comment 1328. After the second party hascompleted viewing the tutorial 1326, which is preferably done in thepresence of the first party or its agent 1329, the second party uses asignature capture device 1330 to capture the second party's signatureand/or initials. At this point in the transaction process, the firstparty and/or the agent of the first party exits the kiosk 1331. As notedin comment 1332, this leaves the second party alone in the kiosk toobserve the multimedia presentation and complete all documents requiredto enter into the transaction with the first party.

The second party thus views the presentation of documents and theassociated multimedia presentation that explains the content thereof1333. As noted in comment 1334, the multimedia presentation ispreferably disclosed to the second party via a digital avatar, and thesecond party can use the interface associated with the display tocontrol attributes of the multimedia presentation and to obtainadditional detailed information. Once the second party has acknowledgedunderstanding and acceptance of the terms of a document, the secondparty is requested 1335 to authorize the affixation of the secondparty's signature and/or initials to the document. As indicated incomment 1336, once the second party signals acceptance using theinterface, the second party's signatures are added to the document anddisplayed to the second party on the display terminal. This process isrepeated 1337 until there are there are no other documents to bepresented and/or signed and the document disclosure process is completed1401 (box 1338 in FIG. 13 is the same as box 1400 in FIG. 14, which is acontinuation of FIG. 13). As indicated in comment 1402, the recording ofthe second party ceases at this point. The second party is asked toverify the second party's e-mail address 1403 in order to receive signedcopies of the transaction documents. Once the information has beenverified, an e-mail is sent 1404. The first party or its agent can print1405 a set of the signed transaction documents and provide the same tothe second party 1406. At this point, the entire secure, validatedtransaction process is complete 1407.

Miscellaneous Technical Attributes.

The system software can be built on Microsoft's .NET software framework,or on other software frameworks (e.g., Linux or SUN). Various parts ofthe system can be cloud-based, and can be deployed on Windows Azure andfollow the Software as a Service (SaaS) delivery model. The system canbe also deployed and hosted on Internet information server (IIS)Windows.

The core application can be hosted at a data center. All othercomponents are adapted to utilize and interface with the coreapplication. The core application is preferably configured to handle andmanage information across multiple data platforms and to integrate suchdata to compile multimedia presentations and conduct validatedtransactions.

A Windows Communication Foundation (WCF) Web Service can take on themajority of the application workload. Communications with the webservice can be done using Representational State Transfer (REST) and/orOData architecture. This allows for reusability across multipleplatforms.

An administrator portal can be a web application built on frameworkssuch as ASP, .NET, MVC. The C# programming language can be used forserver-side scripting, and JavaScript and AJAX can be used forclient-side scripting. Through the administration portal, customeradministrators are able to perform account and user management, as notedabove.

Microsoft's Silverlight can be utilized to deliver the multimediapresentation to the buyer during the closing. Silverlight has videostreaming capabilities and fluid interface animations. Silverlight canprovide a rich user experience that is intuitive and similar to desktopapplication, which the buyer likely has encountered during his or herlifetime.

The following examples are intended only to illustrate the invention andshould not be construed as imposing limitations upon the claims.

EXAMPLE

Auto dealerships are provided with administrative log in credentials toa web site, which allows the dealerships to create secondary (i.e., morelimited), logins for various employees to initiate sales contractswithin the portal. The secondary logins are for use by closing agents ofthe dealerships. The administrative portal consists of three majorareas: Company Setup; Document Setup; and Sale Setup. Each dealership ispermitted to access a separate, secure database established for storingthe dealership's default data in each of the three categories.

An administrator has access to set the company default data. Examples ofdefault data include the dealership's name, address, EmployerIdentification Number (EIN), sales tax rates, dealer document fees,dealer registration fees, title fees etc. Also, if there is a defaultfinance company the dealership works with, the dealer can set suchfinance company as a default, as well as the standard interest rate thiscompany charges. Once this information is entered and saved, it becomesthe default information filled into each new sale, unless the closingagent elects to change it at the buyer's request.

The database includes a core set of legal and compliant documents, whichare stored as templates that can be populated with inputted buyer data.These forms are tailored to each state's laws, to provide a state andfederally compliant sale closing. The administrator of the dealershiphas the ability to view all document templates, as well as any locationspecific forms that may need to be included at the closing. Thetemplates include all static data, and leave spaces for the buyer'sname, address, date of birth, drivers license number, vehicleinformation, finance information, etc, that are populated using the datain the buyer-specific database that is generated for each sale. Theadministrator has the ability to add or remove spaces for digitalsignatures on each form, and update verbiage, if necessary. This sectionis preferably locked to the administrative portal because there shouldbe no reason for the dealership to change this information after theinitial review.

To populate the information necessary for each document utilized atclosing, a buyer-specific database must be created. This is done byeither manually entering the information into the or by exporting thedesired information using a bridge (also known in the art as anApplication Programming Interface or API) from a dealer managementsystem (DMS). Most dealerships input all their customer information intotheir DMS, so by exporting the data with a bridge avoids a double-entryand potential errors that can occur thereby. Example information enteredin the buyer- specific database is buyer name, address, date of birth,driver's license number, credit score or interest rate qualifications,Social Security number etc. Whether manually entered or exported from aDMS, this customer table is built with all information necessary torender the completed documents for signature. Once all information isentered into the system and the customer database table is adequatelyfilled out, the administrator or closing agent is able to ‘Create theSale.’ They do this by selecting all necessary forms to be displayed inthe media presentation to the customer. By default, the minimumdocuments required to close the transaction are selected, but theclosing agent has the ability to add additional location specific formsshown based on the sale. Once the sale is created, the necessary formsare compiled in order, and the appropriate multimedia presentationaccompanying each form is paired with each document. For example, if thefirst document is a privacy notice, the system pairs the audio/videopresentation for the privacy notice with that form so they are displayedside-by-side to the buyer during the closing. The completed sale alsogenerates a ‘Sale Code’, which is an alphanumeric code sequence thatcorresponds directly to the newly created sale.

This is given to the closing agent, so that they can display therelevant closing presentation to the buyer. The administrator has accessto view the completed sales and retrieve the Sale Codes as necessary aswell. For every form in the system, there is a corresponding multimediapresentation.

The dealership preferably has a dedicated area/room (“kiosk”) in theirlocation utilized exclusively for closings using the system and roomcamera monitoring device. In this embodiment, the room houses adedicated, all-in-one computer system, which includes a display unitthat is preferably quite large (e.g., 21″ to 24″ measured diagonally)and includes a front-facing camera capable of recording audio and videoin the top-middle portion of the display. This unit will also have akeyboard and pointing device to receive user input, as well as a digitalsignature pad connected to the computer to receive electronic signaturesfrom the buyer and co-buyer (as necessary) and receive the command fromthem to affix those signatures to the form in question. The system willalso include a “Call Button” affixed to the desk (or otherwise withinthe system) in the room, allowing the buyer to “Page” the closing agentif there are additional questions beyond what is explained in thepresentation. It will be appreciated that other hardware could beutilized (e.g., iPad's, display terminals with non-integrated camerasetc.).

Using one of the Closing Agent log in's created from the administrativeportal, the closing agent logs into the client side portal of a websiteassociated with the system, and is prompted to input the ‘Sale Code’provided by the administrator. Once the Sale Code is entered, theclosing presentation begins, and the buyer cannot leave the presentationonce it has begun until it has completed the final form (unless thebuyer decides not to complete the transaction). The buyer is shown thedocument in question on the left side of the screen, and the multimediapresentation on the right.

The presentation for each form gives an explanation of what the form inquestion is and what they are agreeing to. If the customer requiresfurther explanation, it can be requested and then provided, preferablywhile keeping the document showing on the left side of the screen. Whilethe presentation runs, the form may be explained section by section;while a colored overlay (or section zoom) is displayed on the documentso what is discussed is brought to the fore-front. Once the presentationhas completed to the buyer's satisfaction, the buyer will be prompted toadd their digital signature and/or initials to the form, signifying fullunderstanding and acceptance, before they can move on to the next form.The buyer is encouraged NOT to sign any document if questions persist,but to call the closing agent using the Call Button and have theirconcerns addressed.

Once the presentation is completed and all the forms have the necessarysignatures, the buyer is prompted to enter an email address. Once theyhave done this, an electronic copy of the finalized forms (includingsignature) may be emailed to them, along with an access code to log intothe associated website and view the Recording Output of their closing(for a set amount of time, potentially 30 days.)

While the closing presentation is in process, there are two separatecaptures taking place: The system is recording a screen-capture ofeverything happening on the screen (the audio/video displayed,everything the user clicks, etc.) and saving it to a file on the localcomputer. Additionally, the front-facing camera built into the system iscapturing audio and video of the customer's face as they move throughthe presentation, and potentially the room camera video associatedduring the event. If at any time the closing agent comes into the roomto provide further explanation, this is captured through this system aswell. Both of these recordings begin the minute the presentation beginsdisplaying, so they are time-synced together. The system takes these twocaptures and displays them side by side (e.g., the screen capture on theleft, and the customer recording on the right) along with the text datadisplaying the customer's name, date, selling dealership, and closingagent along the bottom beneath the videos. In other embodiments, thevideos could be merged. The output videos are kept securely on remoteservers and can be accessed, as necessary, locally, and monitored forall access types. The remote user will receive an access code to reviewtheir closing for a defined period of time (potentially 30 days).

Additional advantages and modifications will readily occur to thoseskilled in the art. Therefore, the invention in its broader aspects isnot limited to the specific details and illustrative examples shown anddescribed herein. Accordingly, various modifications may be made withoutdeparting from the spirit or scope of the general inventive concept asdefined by the appended claims and their equivalents.

What is claimed is:
 1. A system for validating a transaction between a first party and a second party, the system comprising: a multimedia presentation prepared by or for the first party, said multimedia presentation including at least one document to be signed by the second party accompanied by explanation of one or more terms set forth in said at least one document; a display terminal configured to display the multimedia presentation to the second party during the transaction; a device for capturing a signature of the second party; a recording device configured to acquire audio and video of the second party during the transaction; a data storage operatively associated with the recording device for storing the audio and video recording of the second party acquired during the transaction; and an interface operatively associated with the display terminal that is configured to allow the second party to control an attribute of the multimedia presentation and to determine whether the signature of the second party may be associated with the at least one document.
 2. The system according to claim 1, wherein the display terminal, recording device and the interface are located in a kiosk, and wherein the data storage operatively associated with the recording device is located remote from the kiosk.
 3. The system according to claim 1, wherein the explanation of one or more terms set forth in said at least one document is provided by an avatar.
 4. The system according to claim 3, wherein the attribute of the multimedia presentation that can be controlled by the second party is one or more selected from the group consisting of a language of the multimedia presentation, a pace at which the multimedia presentation is presented to the second party, and an appearance of the avatar.
 5. The system according to claim 1 further comprising a compiler module configured to select documents identified in a documents database and stored in an associated documents storage device that are appropriate for the transaction and to compile said selected documents into the multimedia presentation for display to the second party during the transaction.
 6. The system according to claim 2 further comprising a call button configured to permit the second party to summon the first party or an agent of the first party to come to the kiosk to confer with the second party.
 7. The system according to claim 1, wherein the recording device is configured to capture a view of at least a face of the second party and audible sounds emitted by the second party.
 8. The system according to claim 2, wherein the kiosk is isolated in a room that separates the second party from distractions during the multimedia presentation.
 9. The system according to claim 2, wherein the kiosk is in a form of a stall having sidewalls that block the second party's forward, left and right views outside of the stall when the second party is positioned in front of the display terminal.
 10. The system according to claim 1, wherein an audio portion of the multimedia presentation is presented to the second party via speakers associated with the display terminal or via headphones worn by the second party.
 11. A method for validating a transaction between a first party and a second party, the method comprising: compiling a multimedia presentation that includes at least one document to be signed by the second party accompanied by explanation of one or more terms set forth in said at least one document; displaying the multimedia presentation to the second party on a display terminal during the transaction; capturing a signature of the second party; providing an interface operatively associated with the display terminal that allows the second party to control an attribute of the multimedia presentation and to determine whether the signature of the second party may be associated with the at least one document; recording audio and video of the second party during the transaction; and storing the audio and video recording of the second party acquired during the transaction.
 12. The method according to claim 11, wherein the display terminal, device for capturing the signature of the second party, recording device and the interface are located in a kiosk, and wherein the data storage operatively associated with the recording device is located remote from the kiosk.
 13. The method according to claim 11, wherein the explanation of one or more terms set forth in said at least one document is provided by an avatar.
 14. The method according to claim 13, wherein the attribute of the multimedia presentation that can be controlled by the second party is one or more selected from the group consisting of a language of the multimedia presentation, a pace at which the multimedia presentation is presented to the second party, and an appearance of the avatar.
 15. The method according to claim 14 further comprising, prior to the compiling step, a step of identifying, using a compiler module, one or more documents in a documents database and stored in an associated documents storage that are appropriate for the transaction based upon transaction information provided by the first party.
 16. The method according to claim 11, wherein the recording is made by a device configured to capture a view of a face of the second party and audible sounds emitted by the second party.
 17. The method according to claim 12, wherein the kiosk is isolated in a room that separates the second party from distractions during the multimedia presentation.
 18. The method according to claim 12, wherein the kiosk is in a form of a stall having sidewalls that block the second party's forward, left and right views outside of the stall when the second party is positioned in front of the display terminal.
 19. The method according to claim 11, wherein an audio portion of the multimedia presentation is presented to the second party via speakers associated with the display terminal or via headphones worn by the second party.
 20. A computer readable medium comprising instructions that when executed by a processor perform actions comprising: sending transaction information relating to a transaction between a first party and a second party to a compiler module upon receipt of a command from the first party or an agent of the first party; displaying a multimedia presentation compiled by the compiler module to the second party on a display terminal during the transaction, said multimedia presentation including at least one document to be signed by the second party accompanied by explanation of one or more terms set forth in said at least one document; controlling an interface operatively associated with the display terminal that allows the second party to control an attribute of the multimedia presentation and to determine whether signature of the second party captured by a signature capture device may be associated with the at least one document; controlling a device that records audio and video of the second party during the transaction; associating the second party's signature with the at least one document upon receipt of a command from the second party authorizing such action; and storing the audio and video recording of the second party acquired during the transaction. 